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Enter Interest Amount For Daily Posting

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Use this form in conjunction with the Daily Interest Posting form to distribute interest to interest bearing accounts.

  • In daily interest posting, the total interest available for distribution is entered in the beginning of the interest posting period. This form is enabled and accessible when Daily (Compound) Interest is selected in the Enter Interest Posting Method form.
  1. Go to: Avatar CFMS > Account Management > Interest Posting > Enter Interest Amount For Daily Posting
  2. In the Through Date field, enter the date. The system compares this date with the previous Through Date for interest posting to determine the number of days over which the interest is posted.
  3. In the Interest Amount field, enter the total amount of interest to be distributed. The system calculates the Total Interest Per Day (TIPD) from this amount as well as the number of days between the last Through Date filed and the current Through Date. See Daily Interest Posting.
  4. Click Submit.